What is SFIO and what do Investigation Officers do?

The Serious Fraud Investigation Office (SFIO) is a multi-disciplinary body under the Ministry of Corporate Affairs, established to detect and prosecute corporate fraud. SFIO Investigation Officers investigate serious cases of financial fraud, embezzlement, siphoning of funds, falsification of accounts, money laundering linked to corporate entities, and violations of the Companies Act 2013. Notable investigations include Satyam Computers, IL&FS, DHFL, PMC Bank, and several shell company networks. Officers work in multi-disciplinary teams comprising accountants, lawyers, forensic experts, bankers, and IT specialists.

What is the SFIO Investigation Officer exam pattern?

The exam has 100 MCQs in 90 minutes with -0.25 negative marking, covering Corporate and Company Law (Companies Act 2013, SEBI Act, FEMA, IBC), Accounting and Forensic Audit (financial statements, audit techniques, forensic accounting tools), Investigation Procedures (evidence gathering, search and seizure, statement recording, SFIO rules under Companies Act), and General Studies (economy, financial crimes, corporate governance). A personal interview follows for shortlisted candidates. The depth of corporate law and forensic accounting required makes this a tough exam.

What are the eligibility requirements for SFIO Investigation Officer?

Candidates with degrees in Commerce, Finance, Law (LLB), or professional qualifications (CA, CMA, CS) from recognised institutions are eligible. An M.Com, MBA (Finance), or LLM in Corporate/Financial Law strengthens the application. The age limit is 21 to 30 years with standard relaxations. Candidates with internship or work experience in audit firms, corporate law firms, or financial services investigations are viewed favourably. IT/Cyber professionals with forensic data analysis experience are also recruited for specialised technology investigation roles.

What career opportunities does SFIO offer?

SFIO Investigation Officers work at SFIO headquarters (New Delhi) and its regional offices in Mumbai, Kolkata, Chennai, and Hyderabad. The role offers unique exposure to high-stakes corporate fraud cases that shape India's corporate governance landscape. Pay is aligned with Group A central government scales (Level 10, approximately Rs. 56,100 onwards). Career growth within SFIO leads to Senior Investigation Officer, Joint Director, Additional Director, and Director. SFIO experience also opens doors in forensic accounting firms, financial intelligence agencies, and corporate legal teams.

How should I prepare for the SFIO Investigation Officer exam?

Study the Companies Act 2013 completely—especially provisions relating to fraud, audit, accounts, and SFIO powers under Sections 210-229. Cover FEMA 1999, SEBI Act, Prevention of Money Laundering Act (PMLA), and IBC 2016 as these regularly intersect with corporate fraud. For forensic accounting, study Crumbley et al. or Madura's Financial Forensics. Review landmark SFIO reports on Satyam, IL&FS, and DHFL from MCA website for real-world investigation methodology. Practise financial statement analysis and balance sheet scrutiny regularly. Solve previous ICAI fraud management module papers for practice.

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SFIO Investigation Officer Preparation Guide

Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs

Your Complete Preparation Guide for SFIO Investigation Officer 2027 — strategy, study plan, tips & more.

DifficultyHard

Total Marks100

Duration90 min

Start Practising Now →Free Mock Tests

Exam Overview

Mode

Online CBT + Interview

Frequency

Irregular (as per vacancy)

Next Exam Date

2027-03-01

EEligibility Criteria

Graduate/Post-Graduate in Commerce/Law/CA/ICSI; age 21-30 years

ANumber of Attempts

No restriction (subject to upper age limit)

Study Plan by Subject

Corporate & Company Law

Week 1-4: Foundation

Core concepts & basics

Week 5-8: Deep Practice

Advanced problems & revision

Week 9-12: Mock Tests + Revision

Full-length tests & weak-area focus

Refer to official syllabus for complete topic list

Accounting & Forensic Audit

Week 1-4: Foundation

Core concepts & basics

Week 5-8: Deep Practice

Advanced problems & revision

Week 9-12: Mock Tests + Revision

Full-length tests & weak-area focus

Refer to official syllabus for complete topic list

Investigation Procedures

Week 1-4: Foundation

Core concepts & basics

Week 5-8: Deep Practice

Advanced problems & revision

Week 9-12: Mock Tests + Revision

Full-length tests & weak-area focus

Refer to official syllabus for complete topic list

General Studies

Week 1-4: Foundation

Core concepts & basics

Week 5-8: Deep Practice

Advanced problems & revision

Week 9-12: Mock Tests + Revision

Full-length tests & weak-area focus

Refer to official syllabus for complete topic list

Expert Preparation Tips

Study the Companies Act 2013 in full, especially Sections 210-229 on SFIO powers, fraud, auditor duties, and corporate liability.

Cover PMLA, FEMA, SEBI Act, and IBC 2016 as corporate fraud investigations frequently involve multi-law violations simultaneously.

Learn forensic accounting techniques—financial statement analysis, fund flow tracing, shell company identification—from CA forensic audit study material.

Review SFIO investigation reports on Satyam, IL&FS, and DHFL from the MCA official website to understand real-world investigation methodology.

Exam Pattern at a Glance

Section	Questions	Marks	Duration (est.)
Corporate & Company Law	25	25	23 min
Accounting & Forensic Audit	25	25	23 min
Investigation Procedures	25	25	23 min
General Studies	25	25	23 min
Total	100	100	90 min

Important Dates

Registration Opens

2027-01-05

Next Exam Date

2027-03-01

Conducted By

Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs

Frequently Asked Questions

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